Join Date: Mar 2006
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Re: Pitfalls of trading up?
I'm all about trading up, in fact every boat purchase I've made yet has been aimed at going either newer or larger, but I strongly recommend against upgrading until your current boat has sold.
I bought my first 'large' sailboat while waiting for my 28' powerboat to sell, and carried two slips, two insurance policies, etc until the power boat sold. I will never put myself in that position again. I lucked out, and the power boat sold after a reasonable amount of time on the market for my asking price (this was in 2005- pre economic meltdown), BUT owning two boats is a huge liability, and I was just one equipment breakage on either boat away from financial disaster. Any time the thought of a newer/larger boat began to get traction since that experience, I listed my boat for sale and began seriously shopping/contacting brokers only after it was under contract.
It doesn't cost anything to have a boat listed, and you can still sail it/enjoy it while its on the market. If fact, I find your boat is better off if you continue to use and maintain it while it is on the market. So many people wait until they are done using the boat to list them and they end up stagnating on the market decaying from non-use. So far that method has worked out well for me.
p.s. Craigslist or sailboatlistings.com for smaller boats. Both are free, and I've had great luck with both.
2002 Beneteau 393
I'm a sailor, I sail!
Last edited by creedence623; 05-10-2012 at 08:23 PM.